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Bitcoin Faces Increased Downside Risk as 50-Week Moving Average Breaks
Market analysis suggests that Bitcoin (BTC), currently trading at $87.24K, may be approaching a potentially dangerous technical zone. Multiple market observations indicate that the 50-week moving average acts as a critical resistance point, and breaking below this level could signal a shift to a downtrend.
**Learning Market Patterns from History**
Interestingly, similar technical patterns have formed during several periods, including 2011, 2014, 2018, and 2020. Analysis of price movements during these times shows a tendency for the market to undergo significant corrections following such signals.
**Potential Correction Range and Bottom Price Predictions**
If these past patterns repeat, Bitcoin's current price could face approximately 60% downward pressure. As a result, around the $40,000 level is expected to serve as a support point.
Currently, BTC is at this critical turning point. The future market trend could change significantly depending on the movement of the 50-week moving average, making close monitoring essential.